It’s ending in America

As the whole expenses scandal rumbles on, the economic crisis has been knocked off the front pages. But it hasn’t gone away. Today there’s an interesting article in the Washington Post saying that while the worst is over in America, the recession in Europe will be longer and deeper. (The numbers the Post mentions about Britain are particularly grim). Here are the key paragraphs of the article:

“Nine months into the worst economic downturn since the Great Depression, the free fall in the United States appears to be giving way to a more measured decline, but economists are struggling to find a steady pulse in European and other industrialized nations, such as Japan, where the world’s second-largest economy is also slowing the global recovery. These countries’ recessions are shaping up to be both deeper and longer than the one in the United States, where the pace of job losses has eased and there are fresh signs of life in financial markets.